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Asian Granito India Q2 FY27 results: net profit down 68.8% to ₹5.21 crore, revenue up 29.9%
Asian Granito India Limited reported consolidated revenue of ₹528.50 crore for Q2 FY27, up 29.9% from a year earlier, while profit after tax fell 68.8% to ₹5.21 crore. EBITDA declined 24.3% to ₹27.75 crore and the margin narrowed 3.7 percentage points to 5.3%, with basic EPS at ₹0.20.
Key points
- Consolidated revenue rose 29.9% year on year to ₹528.50 crore in Q2 FY27, but fell 0.5% from ₹530.95 crore in Q1 FY27.
- EBITDA fell 24.3% year on year to ₹27.75 crore, with the margin down 3.7 percentage points to 5.3% from 9.0%.
- Profit after tax fell 68.8% year on year to ₹5.21 crore and 35.4% from ₹8.07 crore in the previous quarter.
- Basic EPS was ₹0.20, against ₹0.70 in Q2 FY26 and ₹0.27 in Q1 FY27.
- In H1 FY27, revenue rose 33.2% to ₹1,059.45 crore while PAT fell 44.5% to ₹13.29 crore.
How did Asian Granito India perform in Q2 FY27?
On a consolidated basis, Asian Granito India reported revenue of ₹528.50 crore for Q2 FY27, up 29.9% from ₹406.92 crore in Q2 FY26 but down 0.5% from ₹530.95 crore in Q1 FY27. Total income was ₹531.01 crore, up 29.4% year on year and down 0.3% sequentially.
EBITDA was ₹27.75 crore, down 24.3% from ₹36.64 crore a year earlier and 15.6% from ₹32.88 crore in the previous quarter. The EBITDA margin narrowed 3.7 percentage points year on year to 5.3% from 9.0% and 0.9 percentage points from 6.2% in Q1 FY27.
Profit before tax fell 68.5% year on year to ₹6.20 crore from ₹19.67 crore, and was down 36.8% from ₹9.81 crore in the previous quarter. PAT was ₹5.21 crore, against ₹16.71 crore a year earlier and ₹8.07 crore in Q1 FY27, while basic EPS was ₹0.20 compared with ₹0.70 and ₹0.27. On a standalone basis, revenue was ₹260.95 crore and PAT was ₹1.21 crore, with PAT before tax at ₹7.79 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 528.50 | 530.95 | 406.92 | +29.9% | −0.5% |
| Other income | 2.51 | 1.45 | 3.34 | −24.9% | +73.1% |
| Total expenses | 524.81 | 522.58 | 390.60 | +34.4% | +0.4% |
| EBITDA | 27.75 | 32.88 | 36.64 | −24.3% | −15.6% |
| EBITDA margin | 5.3% | 6.2% | 9.0% | −3.7 pp | −0.9 pp |
| Profit before tax | 6.20 | 9.81 | 19.67 | −68.5% | −36.8% |
| Tax | 0.98 | 1.74 | 2.95 | −66.8% | −43.7% |
| Net profit | 5.21 | 8.07 | 16.71 | −68.8% | −35.4% |
| EPS (₹) | 0.20 | 0.27 | 0.70 | −71.4% | −25.9% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Asian Granito India's costs and profit?
Total expenses rose 34.4% year on year to ₹524.81 crore, outpacing the 29.9% increase in revenue. Cost of materials consumed was the largest increase, up 68.1% to ₹115.31 crore from ₹68.59 crore, while other expenses rose 57.7% to ₹155.35 crore from ₹98.52 crore.
Employee cost increased 12.8% to ₹46.41 crore from ₹41.15 crore, finance costs rose 12.3% to ₹7.95 crore from ₹7.08 crore, and depreciation rose 21.8% to ₹16.11 crore from ₹13.23 crore. Other income fell 24.9% to ₹2.51 crore from ₹3.34 crore. There was no exceptional item in either period.
Tax expense fell 66.8% to ₹0.98 crore from ₹2.95 crore. Against the previous quarter, total expenses edged up 0.4% to ₹524.81 crore, with cost of materials up 26.4% to ₹115.31 crore and other expenses up 23.5% to ₹155.35 crore, while finance costs fell 6.9% to ₹7.95 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 115.31 | 68.59 | +46.72 | +68.1% |
| Employee cost | 46.41 | 41.15 | +5.26 | +12.8% |
| Finance costs | 7.95 | 7.08 | +0.87 | +12.3% |
| Depreciation | 16.11 | 13.23 | +2.88 | +21.8% |
| Other expenses | 155.35 | 98.52 | +56.83 | +57.7% |
| Total expenses | 524.81 | 390.60 | +134.21 | +34.4% |
| Other income | 2.51 | 3.34 | −0.83 | −24.9% |
| Tax | 0.98 | 2.95 | −1.97 | −66.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue rose 33.2% to ₹1,059.45 crore from ₹795.17 crore in H1 FY26, and total income increased 32.4% to ₹1,063.41 crore from ₹803.31 crore. Profit before tax fell 43.9% to ₹16.01 crore from ₹28.56 crore, and PAT fell 44.5% to ₹13.29 crore from ₹23.95 crore.
EPS for the first half was ₹0.47, against ₹1.02 in H1 FY26. The half-year figures show revenue growth alongside a lower profit than a year earlier.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,059 | 795.17 | +33.2% |
| Profit before tax | 16.01 | 28.56 | −43.9% |
| Net profit | 13.29 | 23.95 | −44.5% |
| EPS (₹) | 0.47 | 1.02 | −53.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹2,483.69 crore on 30 September 2026, against ₹2,471.75 crore on 31 March 2026. Total equity was ₹1,558.87 crore compared with ₹1,542.93 crore, while borrowings fell to ₹414.37 crore from ₹428.05 crore and cash fell to ₹38.16 crore from ₹45.33 crore.
Inventories rose to ₹376.03 crore from ₹342.31 crore, trade receivables fell to ₹534.13 crore from ₹555.02 crore, and trade payables rose to ₹400.74 crore from ₹387.05 crore. In H1 FY27, operating cash flow was ₹52.48 crore against ₹27.44 crore in H1 FY26, investing cash flow was negative ₹31.59 crore against negative ₹4.58 crore, and financing cash flow was negative ₹28.31 crore against negative ₹18.88 crore. Capital expenditure was ₹75.61 crore compared with ₹24.89 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,484 | 2,472 |
| Total equity | 1,559 | 1,543 |
| Borrowings | 414.37 | 428.05 |
| Cash and equivalents | 38.16 | 45.33 |
| Inventories | 376.03 | 342.31 |
| Trade receivables | 534.13 | 555.02 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 52.48 | 27.44 |
| Cash from investing | −31.59 | −4.58 |
| Cash from financing | −28.31 | −18.88 |
| Capital expenditure | 75.61 | 24.89 |
Source: Company's results filing (XBRL).
How has Asian Granito India done over the last 8 quarters?
Revenue has risen year on year in each of the last seven quarters, and for the latest period it was ₹528.50 crore against ₹406.92 crore in Q2 FY26. In the same comparison, PAT was ₹5.21 crore against ₹16.71 crore a year earlier.
The EBITDA margin reached 9.6% in Q3 FY26 and fell to negative 3.9% in Q4 FY26, before recovering to 6.2% in Q1 FY27 and easing to 5.3% in Q2 FY27. Revenue reached its highest listed level of ₹538.50 crore in Q4 FY26 and was ₹528.50 crore in the latest quarter. PAT was a net loss of ₹32.67 crore in Q4 FY26, the lowest in the series.
What did the auditors point out?
The statutory auditors, R R S & Associates, drew attention to Note 9 of the standalone financial results, which describes an Income Tax department search operation at the company's business premises on 26 May 2022, following which orders were received and the company filed appeals. The auditors said that pending finalisation of the appeals, the impact on the standalone results for the quarter and half year ended 30 September 2026, and any adjustment required, was not ascertainable.
The auditors stated that their conclusion was not modified in respect of this matter. In the review report on the standalone statement, nothing had come to their attention causing them to believe the statement had not disclosed the required information under Regulation 33 of the Listing Regulations or contained a material misstatement.
How did Asian Granito India shares react?
The filing appeared after market hours. From the price when it appeared, the stock was up 2.5% after 5 minutes, 2.4% after 15 minutes and 3.0% after 30 minutes. On the reaction day it fell 2.2% from the previous close, and by the next day's close it was down 2.1% from that pre-results close.
| After the filing | Stock | Ceramics median |
|---|---|---|
| 5 minutes | +2.5% | |
| 15 minutes | +2.4% | |
| 30 minutes | +3.0% | |
| Reaction day | −2.2% | +1.7% |
| Next day | −2.1% | +2.1% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 11 August 2026 | +0.9% |
| 30 May 2026 | −1.2% |
| 4 February 2026 | −0.4% |
| 12 November 2025 | +2.9% |
| 13 August 2025 | −1.0% |
| 29 May 2025 | +12.5% |
| 7 February 2025 | −2.3% |
| 14 November 2024 | −2.4% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Asian Granito India's revenue in Q2 FY27?
Revenue from operations was ₹528.50 crore, up 29.9% from ₹406.92 crore in Q2 FY26 (consolidated).
Did Asian Granito India make a profit in Q2 FY27?
Yes. Net profit was ₹5.21 crore, against a net profit of ₹16.71 crore in Q2 FY26.
What was Asian Granito India's EPS in Q2 FY27?
Basic earnings per share were ₹0.20, against ₹0.70 in Q2 FY26.
How did Asian Granito India shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.2% from the previous close; the median Ceramics stock moved +1.7%.
When did Asian Granito India announce its Q2 FY27 results?
On 3 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of Financial Results. (BSE, 26 October 2026) · PDF
- Outcome of Board Meeting (NSE, 3 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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